Today: September 23, 2024
Today: September 23, 2024

Latest From Florence Tan and Sudarshan Varadhan

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Oil inches up after China moves to support flagging economy

Oil prices ticked higher on Monday after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen fuel demand. Brent crude rose 19 cents, or 0.2%, to $84.67 a barrel by 0627 GMT, while U.S. West Texas Intermediate crude was at $80.09 a barrel, up 26 cents, or 0.3%. Brent and WTI posted a second week of losses on Friday after Fed Chair Jerome Powell said the U.S. central bank may need to raise

August 28, 2023
Oil inches up after China moves to support flagging economy
Uncategorized

Oil marginally lower as global economic concerns loom

Oil prices were marginally lower on Monday as investors stayed fretful over the pace of economic growth in China, and the prospect of further U.S. interest rate hikes that could dampen fuel demand. Brent crude fell 8 cents, or 0.1%, to $84.40 a barrel by 0330 GMT, while U.S. West Texas Intermediate crude was at $79.78 a barrel, down 5 cents, also 0.1%. Brent and WTI posted a second week of losses on Friday after Fed Chair Jerome Powell said the U.S. central bank may need to raise rates further to cool

August 28, 2023
Oil marginally lower as global economic concerns loom

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